& cplSiteName &

Rakin' In the Roubles

Ray Le Maistre
11/30/2007

12:40 PM -- Looking for an increasingly profitable services market? Check out Russia.

It's home to two of the world's biggest emerging market operators, VimpelCom Ltd. (NYSE: VIP) and Mobile TeleSystems OJSC (MTS) (NYSE: MBT), and to a host of other money-making carriers, if recent financials are anything to go by. (See Top Ten: Emerging Markets Carriers.)

Mobile operator VimpelCom just announced a 43.7 percent year-on-year rise in third-quarter revenues to nearly $2 billion, while its net income rose 70.7 percent, compared with a year earlier, to $458 million. (See Russia's VimpelCom Ups Revenues.)

Also this week, fixed-line player Comstar United Telesystems JSC (London: CMST), which provides broadband and voice services in Russia's major cities, reported third-quarter revenues up 28 percent year-on-year to $372 million and operating profit up 54 percent to $117.7 million. (See Comstar Reports Q3.)

And long-distance voice services operator Rostelecom just announced first-half revenues up 8.2 percent to 31.7 billion rubles ($1.3 billion), while its net income grew more than five-fold to R2.55 billion ($104 million). (See Rostelecom Reports 1H07.)

Mobile TeleSystems also recently announced third-quarter revenues of $2.2 billion, up 23 percent year-on-year, and net income up 35 percent at $655 million.

Add serial acquirer Golden Telecom Inc. into the mix -- third-quarter revenues up 53 percent, net income up 207 percent -- and you've got a whole lot of profitable and growing carriers. (See Golden Reports Q3.)

Time to open a bottle of Matryoshkina, methinks.

— Ray Le Maistre, Vodka Editor, Light Reading

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
More Blogs from EuroBlog
Having taken a breather from its acquisition spree in the US, Zayo could kick-start some infrastructure consolidation action in Europe
Some good news for its Finnish parent – Nokia Siemens Networks is on a margin roll
Telefónica to boost its broadband lines in LatAm with DSL management the from ASSIA
According to the value of Nokia's takeover deal, Nokia Siemens Networks is worth less than $5B
As APAC and North America forge ahead, Europe seems stuck in yesteryear
Featured Video
Upcoming Live Events
October 22, 2019, Los Angeles, CA
November 5, 2019, London, England
November 7, 2019, London, UK
November 14, 2019, Maritim Hotel, Berlin
December 3-5, 2019, Vienna, Austria
December 3, 2019, New York, New York
March 16-18, 2020, Embassy Suites, Denver, Colorado
May 18-20, 2020, Irving Convention Center, Dallas, TX
All Upcoming Live Events